The Seattle Star Newspaper, October 17, 1899, Page 3

+ Immense Resources. The mining prospects in the Ca. adem will next engage the attention of capital and the Index-Stlver creek section will furnish for Beattle alt and more than Republic has done for Spokane Pveryone knows, who has made the attempt, how diffloult it in to » capital in any new and vatried channel, and with what a rush it pours in when confidence ts finally imapired. The reperts that are now going out to the world from this section are gradually attracting attemion and curiosity in the FE and it is only a question of a little time before all the needed capital to demonstrate the extent of this great copper region will be found avail- able Vt tw difficult for the average man, engaged in other pursuits, to fully appreciate the extraordinary extent of the great movement that has within the past two or three years directed @uch an enormous stream of capital into one channel, Fro. & recent copy of the New York Fin- ancial News we note that "N be- fore in the world has there been auch general and widespread activity in mining tn all parts of the world and for all the important minerals, ‘This activity is more concentrated and intenee in the United Sta than elsewhere, but [t t* spreading in ev- ery region. Australia, Africa, China and the telands of the Pacific, Fur- ope, South America, British North Amerioa, Mexico, are all in the rush as well we of the United States Tt ie an age of mining. “In every mining state and terri- tory of the Union there fe an amount of work going on not heretofore equaled. The okt fields are giving out enlarged yields and new ones are constantly coming forward. Coal is the basis of modern enerwy, and 1 and copper the body and nerves of modern appliances and machinery in the arte and industries, Thix has giver a foundation t miniog which hae taken from it speculative, un- certain feature which have long kept ft out of what called tte! ‘le- gitimate business." Today there ts neo business so ‘legitima #0 stable, 80 certain of giving good returns for capital and labor put into it, as min- ing, whether for tron or coal or gold or silv The world neels, for its modern progress, the mineral wealth of the earth and capttal ts ready to go into mining now as into the mowt favored lines of other Industry or productton.”” Today copper te king. and its reign promises to be a long and proeper- ous one. It is partly due to this fact thet we owe the present activity in the Index. Stiver Creek and Stiver- ton districts. ‘The general contour of this coun- try and ite surface indications, of such unusual interest, particularly with respect to copper. that an en- during conviction ts firmly estab- Hehet as to ite Immense resource end at the present price of copper, or the price that fs likely to rule for years to come, It is by no means im- possible for this region to become the greatest copper ore producer in the wortd. We shall continue to note with a very pleasurable interest the pro- gress of further developments in this district, and we are satisfied that only capital and time are needed to fully demonstrate the confidence of ‘th present sanguine owners.”—Ge- anle Times. u “No doubt there are lots of places fn this country where copper is to be found in quantities which will pay well for its mining, but under the most favorable circumstances it takes about two years to develop a Promising prospect into a paying mine. “Tose who fear, or hope, that cop- per may become much cheaper in the Immediate future will do wel! to bear this fact in mind. The demand for copper ts increasing in a much faster rate than i# the production. ‘Therefore, those who anticipate 10- cent copper ‘after a white,” are like- ly to be long disappointed. York World, “TAE DEMAND FOR COPPER FOR ELECTRICAL USES is MAINLY ACCOUNTABLE FoR THE FACT THAT THE OUTPUT OF THIS METAL IN THE UNITED STATES HAS BEEN MULTI- PLIED BY SIX SINCE ith. TO MAKE A TELEPHONE CIRCUIT FROM BOSTON TO CHICAGO KE- QUIRES OVER 1,000,000 POUNDS OF COPPER.” Tt is the quality, not the quantity of ores which pay the operator, fence in shipping ores the aim should be to get as high value as powaible in as small bulk a# possible. Here is where the benefit of concer tration comes in, It is poor policy to send non-paying ore with rich, for \f poor ore ne, will not pay, it certainly i# a mistake to mingle it with high grade ore. Many miners make this mistake and find, to their com, that the cost of transporting tnd handMng and treating the ming- fed mass eat up a large percentage of the profits derived from the only paying portion of ‘the ore. There- fore, the level-headed miner will soncentrate his ores for reduction.” @Wentern Mining World ‘The history of the utilisation. ef electricity hus been one of steady reasion New fields have nv d and captured, one after an tone of those captured n surrendered " te other, has bee logical to belleve that the steam lo comotive will toon give way to the electric motor, With the accomplish ment of this remult, it is safe to that the market for copper will tent the capacity of all of the mines pret ent and prospective.’"—New Kogland Statist. “New achemon of electrical equip. ments for rallroads are ojected, and the demand for copy trical. purposes will require enormous quantities of this metal in the fue ture. Aluminum, at about twice the comt, and with ite limited output, te not able to compete with copper, Be- aides, th is too much waste In aluminum to stand the ordeal of sue- cessful all-around competition with copper. In copper the electrician has @ metal which has proved its super. lative superiority, and te use in the electrical fleld i# bound to increase,” Copper Situation “Tolay the support of consider. ably over 1,000,000 people tn this country ia derived from enterpris which di <d upon electricity, gnd to thie ow there will be an enor- mous addition when electroity is subetituted for steam a® motive ower on the railways “Electricity is invading all the arte and industries, The finds it more economical attach @ motor to each of his machines, dis- tributing power through his factory by meane of wires, Coal in now cut in the mines by electric power, car- ried to the pit's mouths by the sar agency, and joaded upon wetrle cars for transportation,” ~Eleotrical World. PAAAAHLEHHLAAHAELHAREHS E have made money for many of the le THE SEATTLE STAR. Stronger Than Ever. “A leading presmes the opinion that the situation uthority on copper ex- fa stronger by far th at any time tince the metal sold at 12 cents per pound, Blectrtelty, as a motive pow tar dally. It t that sub. er, is growing in now a der urban electri Iways in the more thickly mettle ethene « country are highly profitable prin It Im expected that the recent con= solidation of a large number rullway companies in New and the publication of the high aver age of thelr net earnings, will act impetus to the many an a air companies contemplating the con. struction of street railwayn. An wuch construction resulta in ¢ mmous consumption of copper, it Is regarded as an important factor in the press ent market.”’—Boston Globe, “Many marvelous things are be- ing mplished with metals by the aid of electricity, arnong which may be mentioned the welding t ther of such substances as steel, copper, nickel te a task that war deemed imporstble until recently, With t ment of the et ‘ anew y of high temperatures is in promising fresh discover- ies of high industrial value, By thie means a heat of 7,200 degrees Fah- renhert attained, which t# sum. clent to reduce all known substances Hence the electric furnace, in which gold, iron, platin and copper are ed, and by the help of which mds have been manu- 1 charcoal." —Engineer~ . ~* actual diam factured fr ing. by investing their funds in’ good-~—~--—~ COPPER STOCK We can do the same for you, and will not risk investment in any property unless we have personally examined it. Twenty-four years in the business should qualify us to act intelligently. ————— eee As Low as Ten Dollars Invested for You Reference: SEATTLE NATIONAL BANK. Copper is coming into extensive use for roofing purposes, especial for large buildings, The new minal station of the Roxbury, Ma elevated road will have a copper roof. The station will be 182 feet long and 75 feet wide. It ia expected that this roof will be one of the high- est and most durable in the country, r- Mines and Mining Stocke. The fact should be kept ever in view that the stock market t# one thing and the mining imdustry quite another. The valve of the stock of @ mining company ought to be gov erned by the condition or prospects of the property, but unfortunately the stocks are frequently forced up or down regardless of the merits of the mines, The slump in copper stocks last week and their rise in during the current week is a case in point. The Boston & Montana, for example, fell from $950 or more to $230, and it Is now back to nearly the old figure again—a clean drop and rise of $4,000,000 with MHterally no change in the real value or prospects of the mines. Ami so with other mines, the Anaconda, the Butte & Boston and Parrott, et« Tt is quite evident that somebody, perhaps « good many ‘somebodies,” sustained a wholly unneces#ary loms."-Anme conda Standard, “More money ts being put into mining prospects and mines at this time than tn all the history of the mining industry."—Industry and Mining. Big Strike. “The Jumbo, extension of the Cop. per Pell, at Index, has Just made a bie etrike LL. W iray, one of the owners, ways that the Jumbo ts ficher than the CO ver Pell When a representative of Industry and Mining questioned Mr, Gray remard- ine the recent reports which were current regarding the of the Copper Rell to an Englieh syndicate he waid: "You can aay for me that the Copper Bell is not for It is true that we were offered $200,000 for the property, but If they can af- ford to pay us that amount we can afford to hotd it We have nine claims on this lead, and the ledge im at least 16 feet wide and tr re is principally chlorides, chaleopyrites and glance, and Its values run as high as nt. COT and over in «old expect to put in a rpist and compressor plant soon and begin actively to develop by power Grills.” Members Stock Exchange. JOHN E. McMANUS & SON (Pioneer Brokers Index Silver Creok District) 918 Second Avenue SEATTLE, WASH. Agents: Wanted Everywhere Calumet and Hecla directors have 4 & dividend of $20 per share, the 112th dividend of ¢ mpany, Whose total divktemd dis- bursements will have aggregated $63,454,000. Thin in the second of the fiscal year begianing May 1. Twen- ty dotlars was declared May 20 last ‘The company paid $70 during the year ended April 2, 1899, and 40 during the year ended April 30, 1898, pokane minin men are getting int 4 extennively in this district They have made mone y in other camps. and generally know a good thing when they wee it They are lers and are saily welcome to, Index.’—Index Miner. “The Sunset has begun regular shipments, This property has pra tically made the camp, th Perreverance and faith of owners, Arthur and Milton F and John EB. McManus. In apite of the Klondike and all other draw- back ey have pushed development withe ean nd have proved the value of a true fins ein the Ine dex camp. The ore is now coming out without a hitch, and there ta plenty of it. The value will easily run ov ing Record, r cent, copper.""—Mine The Congress mine at 150 feet was considered a fraud by no less a per- fon than Diamond Joe, but at 300 feet it was a bonanza, and now at £00 fect it ie he at $2,000,000. The tuna mine at 150 feet wae bought by Charles Lane for $140,000; now ot a depth of 600 feet you couid t buy it for $2,000,000. The King of Arizona was sold for 0,000 when at a depth of 100 fect while today, with a depth of 500 feet, it is Held at $1,000,000 hé Crowned King mine was $23,- 000 in debt when down 165 feet. Now ut a depth of 500 feet, debts all paid and regular dividends lared, it cannot be purchased for lees than $1,000,000. The Pearce mine was sold for $275, a depth of 100 feet b heen made; it in now producing # 000 monthly and is not for sale 000,000 having been refused.—Ex, ding people of Seattle and the State The principal cause for the ad- vance of Western securities lew in the development of new mining *, where the money in tak f the ground and not from Cruthers, a Portland capt- tail#t and heavy dealer in Wash ington wtate and municipal securi- tiew, in credited with the foregoing true and jogteal statement.—Finan. elal Truth The Butte Miner reports, on the bert of authority, that the Parrott smelter will shortly start up the con centrators on the tailings whicn have been accumulating for years. The tailings are euppowed to be very rich, empecially thom deposited many Years ago when the means and Pliances for extracting the precious metals had not been brought to the prosent stage of perfection Knough tailings are right at hand to lawt for at least three years, Some of them expected to run a» high as 5 per copper, not taking account of precious metals. Thore d ponlted in later years wiil, of cours not be fo rich in mineral. The ores from the Parrott mine will continue to be nent to the smelters at Ana- conda “Legitimate mining demands that a mine be ked thoroughly and systematically, but economic condi- tions do not always permit of wo: ing the low grade mineral at The advent of railways, « lower cost of materials, improved methods an4 cheaper labor often make it possible to work @ mine at a aM, which, prior to the advert of these condl+ eons, could only be worked at a jons This has been repeatedly demon- strated in Western mining regions —Mining and Sctentiqe Press When it is considered that it takes about 1,500 sheets copper to cover the bottom of a 2.000-ton ship, the Possibilities of the demand for cop. per from the shipbuliding industry in view of the increasing amount of work they will do is apparent. J, Wilmshurst, a prominent Spo- kane mining man, saye the Index Is 4 wonder, When seen by a repr sentative of the Financial Truth he remarked: “Spokane will develop In- dex, even though the shingle boiters and clam diggers of Seattle prefer to fend their mc to Alaska.” It may be the Seattle spirit will show Spokane that this city ap- preciates the wealth of Index, Mr, Wiimshurst to the contrary notwithe standing, Will Use Machines As soon as their hoisting plant is installed the Sunset mine, Index di trict, will put in machines and sink to the water level—600 feet. When Montana people leave the copper fields of that state for Index, it speaks wonders for the future of Washington mining. Ore is coming in in abundance tn the crosscut on the Copper Bell, and the shaft looks like ready money: The Bell is a winner all the ttme, and good work js being done on it Resides copper, gold and silver, In- dex now produces nickel In pa quantities. There is.no telling what this marvelous district will net do next. da lp lsc tas sills nella craccs tae nd lm het lh i “What tt Means very day adds new jaurels to the mining industry of this state, and particularly to the Index diwtrict. The prompecta dince 4 and work- ed are beginning to prove “worthy of their #teel,”” and as each #ucceeding shoveiful of earth te re d, comes kreater cause for rejoicing ethe Index district has been brought be- fore the public, interest to a wat extent, has died away in EBamern mines, and typleal miners are taging hold of the newly discoveréd proper- tier with results which more than andrepay. The past few days } wealthy New York ts who personally investi- these properties and pro- nounce them A No. 1, A wealthy Michigan miner also has given hie opinion that they are the richest fr the United States and that he wilt for bis colleagues, invest he Index properties, Not alone thetr personal exemplilication of fatth, but Eastern papers are jauding our mines to the skies and prociaim them t ‘mecen of the mining man.” ¢ raise no objections, but rather encourage their laudations, but it must be remembered that our mining industry is yet in ite ine cipiency, but that with proper works ing, th will soon be trundied world wide as the bed of millions for those who desire to avail thempgelver of the opportunity and jocation. And the time will be short for these advances next season will witness the great- est activity ever known in mining circles, and Seattle will be headqua ters for all classes—miner, prompec- tor and locator,—Financial Tr”. The Boom In Mining Reports from mining centers show that the long expected mining boom has arrived at last. The boom tse not confined to any particular section, but all the great mining districts of this country, Britien Columbia and Mexico are participating in ft. The manufacturers of mining machinery are busier than they have been for many years. Forsaken properties in old camps have been reopened. Mining companies with charters 20 years old, some of which dropped out of wight during the late period of stagnation, are refurnishing their offices and resuming operations on abandoned claims. The prospector and the grub-staker are in evidence all over the West, while In the East- ern cities the promoter wears @ smil- ing face and avers that now ie the time for the investing public to come in and sbere in the general mining prosperity , In New York, Boston and other citles, large mining enterprises are being floate! by men who a few years ago regarded mining ae a doubtful and unstable business. The Standard Ol people, who have miéj- lions upon millions of capital et theig disposal, have taken a new hold on the industry. The Rothechtids and other money kings of Europe have representatives in various camps looking for properties ‘that can be made to pay. London bankers and members of the British peerage fig- ure as directors In mining corpora- tions that are working the gold fields of Bastern Oregon and British Columbia, and extracting the pre- cious metal from the rich grounds of Cripple Creek. And Western pro- moters are leaving their snug offices in Spokane, Salt Lake, Colorada Springs and Denver to estabitet themselves in New York city, which is showing increased interest in ev- erything pertaining te mines and mining. The big demand for copper hee done much to stimulate present con- ditions, and the wonderful success of the zinc and lead producers tn the Missouri-Kansas district has also helped on the boom. Experts can sto no untoward ciroumstances that may affect the copper situation. They agree that the price must re- main at about present Sgures, and predict (hat the supply will be in- adequate to the demand for som time to come.—Americen News, “One would be led to Believe from the lot of talk there is about new copper mines and from the actual number of new mines which are be- ing put in shape to produce thet the increase would be enough to prevent the t ned shortage; but when we take into consideration that the total production of copper last year Begg the ent! ear was in all prob- Dility as mur 900,000,000 pounds, the product of ew mine does not cut a great figure. The increase of copper in 1898 over the production of 1897 was very large tn pounds but only about 3 per cent., comparative. ly. Ordinary new smelting propo- sitions return probably about 5 per cent, while the new native copper mines that produce 1 per cent. do very well, so that a new mine that will produce 100 tons per day of smelting ore, or h00 tone a day of native copper rock, will add only to the production about 1,800 tons a year, which is about one-third of 1 per cent. of the total production.” Brooklyn Hagle,